Mihir Kanjibhai Daka, Nishank Naresh Sidhpura, Urvil Sunil Shah, Dr.Jitendra Saturwar
Decentralized finance (DeFi) is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. In the U.S., the Federal Reserve and Securities and Exchange Commission (SEC), likewise in India we have RBI that define the rules for centralized financial institutions like banks and brokerages, which consumers relyonto access capital and financial services directly. DeFi challenges this centralized financial system by empowering individuals with peer-to-peer digital exchanges. DeFi eliminates the fees that banks and other financial companies charge for using their services. Individual shold money in a secure digital wallet, can transfer funds in minutes, and anyone with an internet connection can use Defi.